Home Buying in 21234>Question Details

debbarrett46, Home Buyer in Parkville, MD

I am trying to buy a home in Maryland (Baltimore Co). I thought I would be a 1st time home buyer but was told by someone I don't quality.

Asked by debbarrett46, Parkville, MD Sun Mar 17, 2013

The reason I was told is that I already own a home in the state of Georgia. I do own the home and I have had it about 4 yrs. It was left to me by my dad when he passed away. So I did not purchase the home myself but I do own it. I have never owned a home in the state of Maryland. Any ideas?

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Answers

12
One of the questions you will be asked is have you or do you own any property in the state of Maryland. Your answer would be NO. This being said you are and should be considered a first time home buyer.
1 vote Thank Flag Link Mon Mar 18, 2013
Good Morning,
Have you owned a home in Maryland previously? Within the last 3 years? What being a first time homebuyer in Maryland does is reduces your closing and qualified you for specific financing programs, such as CDA. Are you looking to put a smaller down payment or less closing costs? There are a lot of programs to help you with that. Have you found the home you want to make yours
Call me and I can help find your dream homes and also help you navigate your financing options.
All the Best
Angela
443-802-5500
0 votes Thank Flag Link Thu Mar 21, 2013
You are qualified to be a first time homebuyer in Maryland and I would like to help you with the process. We offer a full service company to get you prequalified all the way to closing on your home. Please call me at 443 562 9209.
0 votes Thank Flag Link Mon Mar 18, 2013
Hello Deb,

I am a Maryland loan officer and will be happy to review your options for purchasing a Maryland home with you.

I can be reached on my cell phone: 202 573-6035.

If you have not already been approved by a lender, I would be happy to run numbers for you to let you know how much you can qualify for.

Feel free to call, write or text if you have any questions!

The first step in the home buying process is to get pre-approved for your mortgage. You can start this by going to my online link. Click here and enter your information so I can run numbers for you: https://6760686183.secure-loancenter.com/WebApp/Start.aspx?&… .
After you hit SUBMIT, I will be able to access your information through our secure website and will run figures for you right away.

This does not obligate you to use Fairway Independent Mortgage Corporation, although we do appreciate the opportunity to work with you.

I am looking forward to working with you and helping you get the keys to your new home!

Sincerely,

Catherine Purcell
Senior Mortgage Loan Officer
Fairway Independent Mortgage Corporation
Cell 202 573-6035
catherinep@fairwaymc.com

Over 25 years of Real Estate and Mortgage experience
focused on educating my clients so you can make an informed decision that best suits your needs!

MLO# 194172 FIMC NMLS# 2289
0 votes Thank Flag Link Mon Mar 18, 2013
Mon 3/18/2013

Good Morning Deb,

They've all answered the question quite well. I'd simply add that "first time buyers" in Maryland is anyone who has never owned a home or hasn't owned a home in the last 3 years. Additionally, a Loan Officer can help choose the right loan program based on your needs and qualifications. There are many programs available if you're interested in down payment assistance; CDA, the Maryland Mortgage Program's DSELP, FHLB, and many others for people looking in Baltimore City. I live within minutes of Parkville,MD 21234 and know the county well. Let me know if I can be of further assistance.

All Smiles,
Marlene
410-499-7279
0 votes Thank Flag Link Mon Mar 18, 2013
If you are purchasing a home in Maryland you should still qualify for the Maryland 1st time home buyer credit. You should check with a title attorney to be sure. I would be happy to refer you to the company I refer my clients to.
0 votes Thank Flag Link Mon Mar 18, 2013
First Time Buyer applies to persons who have never previously owned a home in Maryland. You definitely qualify. That will result in reduced closing costs and may also make you eligible for some special financing programs. Some of these programs are income and occupation dependent. For example, some programs give preference to teachers and law enforcement officers. To get a full picture of what incentives might apply I would need to speak with you regarding income, occupation, employer, etc. . I would be pleased to work with you and I know all the areas of Baltimore County Well. i also work with a mortgage company that is great are identifying all the incentive programs for first time buyers.

Bob McGee
Advance Realty Timonium
410-560-4574
My Blog; http://www.baltimorerealty.blogspot.com
0 votes Thank Flag Link Sun Mar 17, 2013
As far as the state of Maryland is concerned, you *are* a first-time home buyer and are not required to pay for the state *transfer* tax on the purchase if the property is your primary residence. If you have ever owned residential real property in Maryland that was your primary residence, you are no longer eligible for the state tax, regardless of how long you have not owned property in Maryland.

From the MD Office of the Attorney General:

TP § 13-203(b) –
(1) In this subsection, "first-time Maryland home buyer" means an individual who has never owned in the State residential real property that has been the individual's principal residence.

Please feel free to contact me if you have any other questions!

Here's the link, which I'm not sure will read correctly. If not, try a Google search.

http://Fwww.oag.state.md.us%2FCourts%2FLandRecSeminar%2F2004%2F2004… target="_blank" rel="nofollow">http://www.google.com/url?sa=t&rct=j&q=&esrc=s&a…
0 votes Thank Flag Link Sun Mar 17, 2013
For the purposes of MD transfer taxes you would be a 1st time home buyer and would be eligible for a waiver of the transfer taxes. Is there a specific program you are trying to qualify for? Your best bet is to contact a good reputable local lender for answers specific to your situation. Let me know if you need a recommendation.
0 votes Thank Flag Link Sun Mar 17, 2013
Contact any of the Housing Counselling Agencies for advice and counselling. Typically you should not have owned a house in the last three years.
0 votes Thank Flag Link Sun Mar 17, 2013
You are considered a first-time Maryland home buyer if you have not owned a home for three years in Maryland. Owning another home in Georgia may or may not affect the type of mortgage loan you can obtain on a second home here. Your lender can assist you in determining what type mortgage you qualify for. I can assist in helping you find a home of your choice in Baltimore County.
0 votes Thank Flag Link Sun Mar 17, 2013
If you have never owned a home in Maryland, you get a credit on the recordation taxes as a first time buyer on your first purchase in the state. I am not sure why you are concerned about this issue. Please feel free to contact me here to discuss. I would love to help you.
0 votes Thank Flag Link Sun Mar 17, 2013
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